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Arlington, VA - The National Grocers Association (NGA) today applauded the U.S. House of Representatives for the passage of H.R. 4718, a bill introduced by Congressman Pat Tiberi (R-OH) that modifies and makes permanent bonus depreciation. The bill passed with bipartisan support by a vote of 258 - 160.

If enacted, this bill would permanently extend 50 percent bonus depreciation, enabling businesses to deduct half the cost of new equipment purchases. In addition, the bill would allow improvements made to retail property to qualify for this deduction.

According to a 2013 independent grocer financial survey conducted by FMS Solutions Inc. and NGA, 93 percent of independent grocers rate bonus depreciation as important to their ability to reinvest in and grow their businesses.

Prior to consideration of the bill, NGA sent a letter to all Members of the House of Representatives urging their support. The letter reads in part: "This provision provides an important incentive for grocers to expand their business, enabling them to grow and thrive in a competitive industry. By making bonus depreciation permanent, NGA members can operate without the threat of its expiration and therefore plan future business investment. Most importantly, this tax provision enables NGA's members to grow and create jobs."